{
"ok": true,
"cik": "1262823",
"ticker": "WLK",
"name": "Westlake Corporation",
"filings": [
{
"form": "8-K",
"filed": "2026-09-29",
"items": [
"2.05 Costs Associated with Exit or Disposal Activities",
"7.01 Regulation FD Disclosure"
],
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000126282326000067/0001262823-26-000067-index.htm"
},
{
"form": "8-K",
"filed": "2026-08-31",
"items": [
"5.02 Departure or Election of Directors; Appointment of Officers"
],
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000119312526376996/0001193125-26-376996-index.htm"
},
{
"form": "10-Q",
"filed": "2026-08-05",
"items": [],
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000126282326000032/0001262823-26-000032-index.htm"
},
{
"form": "8-K",
"filed": "2026-08-04",
"items": [
"2.02 Results of Operations and Financial Condition",
"7.01 Regulation FD Disclosure",
"9.01 Financial Statements and Exhibits"
],
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000126282326000026/0001262823-26-000026-index.htm"
},
{
"form": "8-K",
"filed": "2026-07-29",
"items": [
"8.01 Other Events"
],
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000119312526324110/0001193125-26-324110-index.htm"
},
{
"form": "8-K",
"filed": "2026-06-15",
"items": [
"7.01 Regulation FD Disclosure",
"9.01 Financial Statements and Exhibits"
],
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000119312526271206/0001193125-26-271206-index.htm"
}
],
"events12m": 20,
"healthWatch": {
"window": "last 12 months",
"since": "2025-09-30",
"signals": [
{
"code": "2.05",
"label": "Restructuring or exit costs",
"count": 2,
"latest": {
"filed": "2026-09-29",
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000126282326000067/0001262823-26-000067-index.htm"
}
},
{
"code": "5.02",
"label": "Director or officer change",
"count": 4,
"latest": {
"filed": "2026-08-31",
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000119312526376996/0001193125-26-376996-index.htm"
}
}
],
"note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt."
},
"sources": {
"facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001262823.json",
"filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1262823"
},
"license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.",
"notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.",
"edgar": "🫧 Edgar looked up Westlake Corporation ($WLK). Last filing: 8-K (2.05 Costs Associated with Exit or Disposal Activities), 2026-09-29. 20 event filings (8-K) in the past twelve months.",
"auditor": {
"changes": [],
"nonReliance": [],
"restatedSince": null
},
"metrics": {
"fiscalYearEnd": "2025-12-31",
"revenue": 11170000000,
"revenueGrowth1y": -0.08005270960303079,
"revenueGrowthPerYear": -0.013163042200683761,
"yearsOfData": 5,
"operatingMargin": -0.14127126230975828,
"operatingMarginPrior": 0.07206391039367485,
"netMargin": -0.13500447627573858,
"operatingCashFlow": 465000000,
"capitalSpending": 995000000,
"freeCashFlow": -530000000,
"researchAndDevelopment": null,
"researchShareOfRevenue": null,
"cash": 2724000000,
"longTermDebt": 5584000000,
"longTermDebtChange": 0.22402455063568616,
"revenueHistory": [
{
"fiscalYearEnd": "2021-12-31",
"revenue": 11778000000
},
{
"fiscalYearEnd": "2022-12-31",
"revenue": 15794000000
},
{
"fiscalYearEnd": "2023-12-31",
"revenue": 12548000000
},
{
"fiscalYearEnd": "2024-12-31",
"revenue": 12142000000
},
{
"fiscalYearEnd": "2025-12-31",
"revenue": 11170000000
}
],
"totalEquity": 8792000000,
"totalAssets": 19961000000,
"equityRatio": 0.44045889484494766,
"returnOnEquity": -0.17151956323930848,
"dividendsPaid": 272000000,
"payoutRatio": null,
"dividendPerShare": 2.11,
"dividendYearsRising": 12,
"dividendCut": false,
"priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.",
"earningsPerShare": -11.7,
"sharesOutstanding": 128260331,
"bookValuePerShare": 68.54808444241424,
"revenuePerShare": 87.08850127636113,
"range80": {
"low": 7784442454.090258,
"high": 12132290727.198837,
"baseline": 10113865350.008224,
"n": 1471,
"band": "b10",
"bandLabel": "$10B+",
"method": "v4.1",
"credibility": 0.5,
"growthYears": 4,
"ownVolatility": 0.22087316766648607,
"classVolatility": 0.06659579566308972,
"volatility": 0.16312565125544737
},
"ifPaceHeld": {
"low": 7784442454.090258,
"high": 12132290727.198837
}
},
"edgarette": "🔖 Exposure: revenue $11.2B (FY2025), total debt $5.6B. Experience: revenue down 8.0% on the year, down 1.3% a year over 4 years; operating margin -14.1%, down from 7.2%. Soundness: equity 44.0% of assets, return on equity -17.2%, dividend per share up 12 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $7.8B and $12.1B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $6.4B to $14.5B. A statistical range, not company guidance. Against peers (13 filers, $50M+ revenue, industrial organic chemicals): operating margin -14.1% against a -3.2% median; growth -8.0% against -3.5%.",
"peers": {
"sic": 2860,
"sicDescription": "Industrial Organic Chemicals",
"calendarYear": 2025,
"minRevenue": 50000000,
"depth": 4,
"group": "2860",
"growth": [
-0.0355,
14
],
"opMargin": [
-0.0322,
13
],
"equityRatio": [
0.5205,
12
],
"returnOnEquity": [
-0.0729,
10
]
},
"summary": "Westlake (WLK) saw revenue fall 8.0% in FY2025 to $11.2 billion, operating margin -14.1% against a -3.2% median for industrial organic chemicals, equity 44.0% of assets, and dividend per share up 12 years running. Every figure is from the company’s own annual report filed with the SEC.",
"chart": "Westlake Corporation against its own record and its peers",
"chartHorizon": "Handed back now, or kept to compound · of each dollar of profit
Gold paid out, navy kept. Kept share Ă— return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.
",
"backtest": {
"tests": 13,
"hits": 9,
"rate": 0.6923076923076923,
"method": "v4",
"byYear": {
"2013": [
1,
1
],
"2014": [
1,
1
],
"2015": [
1,
1
],
"2016": [
1,
1
],
"2017": [
0,
1
],
"2018": [
0,
1
],
"2019": [
1,
1
],
"2020": [
1,
1
],
"2021": [
0,
1
],
"2022": [
1,
1
],
"2023": [
0,
1
],
"2024": [
1,
1
],
"2025": [
1,
1
]
},
"note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample."
},
"registry": {
"logged": "2026-09-30T14:36:05.580Z",
"hash": "2833c696035d4486",
"status": "open"
},
"caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.",
"schema": "pops4.edgarette.card/1",
"card": {
"summary": "Westlake (WLK) saw revenue fall 8.0% in FY2025 to $11.2 billion, operating margin -14.1% against a -3.2% median for industrial organic chemicals, equity 44.0% of assets, and dividend per share up 12 years running. Every figure is from the company’s own annual report filed with the SEC.",
"exposure": {
"fiscalYearEnd": "2025-12-31",
"revenue": 11170000000,
"totalDebt": 5584000000,
"cash": 2724000000
},
"experience": {
"revenueGrowth1y": -0.08005270960303079,
"revenueGrowthPerYear": -0.013163042200683761,
"operatingMargin": -0.14127126230975828,
"operatingMarginPrior": 0.07206391039367485,
"netMargin": -0.13500447627573858,
"freeCashFlow": -530000000
},
"soundness": {
"equityRatio": 0.44045889484494766,
"returnOnEquity": -0.17151956323930848,
"payoutRatio": null,
"dividendPerShare": 2.11,
"dividendYearsRising": 12,
"dividendCut": false,
"note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown."
},
"peers": {
"sic": 2860,
"sicDescription": "Industrial Organic Chemicals",
"calendarYear": 2025,
"minRevenue": 50000000,
"depth": 4,
"group": "2860",
"growth": [
-0.0355,
14
],
"opMargin": [
-0.0322,
13
],
"equityRatio": [
0.5205,
12
],
"returnOnEquity": [
-0.0729,
10
]
},
"credibility": {
"auditedYears": 5,
"weight": "reasonable",
"standard": "ASOP No. 25",
"nonReliance": null,
"auditorChange": null
},
"healthWatch": {
"window": "last 12 months",
"since": "2025-09-30",
"signals": [
{
"code": "2.05",
"label": "Restructuring or exit costs",
"count": 2,
"latest": {
"filed": "2026-09-29",
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000126282326000067/0001262823-26-000067-index.htm"
}
},
{
"code": "5.02",
"label": "Director or officer change",
"count": 4,
"latest": {
"filed": "2026-08-31",
"url": "https://www.sec.gov/Archives/edgar/data/1262823/000119312526376996/0001193125-26-376996-index.htm"
}
}
],
"note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt."
},
"range": {
"low": 7784442454.090258,
"high": 12132290727.198837,
"baseline": 10113865350.008224,
"coverage": 0.8,
"method": "v4.1",
"basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024",
"calibratedOn": {
"companyYears": 1471,
"sizeBand": "$10B+",
"fitYears": [
2018,
2022
],
"tuneYear": 2023,
"testYear": 2024,
"coverageOnTestYear": 0.8341,
"coverageAllYears": 0.6904374799277399,
"stressCoverageAllYears": 0.819004992974709,
"outcomeYears": [
2019,
2025
]
},
"credibility": {
"weightOnOwnRecord": 0.5,
"growthYears": 4,
"ownVolatility": 0.22087316766648607,
"classVolatility": 0.06659579566308972,
"pricedVolatility": 0.16312565125544737,
"k": 3
},
"stress": {
"low": 6405754307.104129,
"high": 14493271320.360422,
"basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included"
},
"kind": "a statistical range, not company guidance; no view on the share price",
"track": {
"backtest": {
"tests": 13,
"hits": 9,
"rate": 0.6923076923076923,
"method": "v4",
"byYear": {
"2013": [
1,
1
],
"2014": [
1,
1
],
"2015": [
1,
1
],
"2016": [
1,
1
],
"2017": [
0,
1
],
"2018": [
0,
1
],
"2019": [
1,
1
],
"2020": [
1,
1
],
"2021": [
0,
1
],
"2022": [
1,
1
],
"2023": [
0,
1
],
"2024": [
1,
1
],
"2025": [
1,
1
]
},
"note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample."
},
"registry": {
"logged": "2026-09-30T14:36:05.580Z",
"hash": "2833c696035d4486",
"status": "open"
},
"scorecard": "https://www.pops4.com/boards/scorecard"
}
},
"caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.",
"sources": {
"facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001262823.json",
"filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1262823"
},
"speedCash": {
"fiscalYear": 2025,
"cashConversion": 0.0416,
"growth3y": -0.109,
"volatility": 0.2209,
"paysDividend": true,
"raisedDividend": true,
"equityRatio": 0.4405,
"quadrant": {
"code": "sj",
"label": "Slow and jumpy",
"plain": "growing slower than its size class, with revenue that swings more"
},
"compass": {
"code": "fading",
"inside": "Turns 4.2% of revenue into operating cash; revenue shrinking 10.9% a year over three years; pays and raised its dividend.",
"outside": "Among $10B+ companies: 15th percentile for cash, 4th for growth.",
"emoji": "🍂",
"label": "Fading",
"plain": "slow and jumpy, lagging its peers"
},
"band": "$10B+",
"cashPctInClass": 15,
"growthPctInClass": 4,
"source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class"
},
"harbor": {
"signs": [
{
"key": "warning",
"text": "filed restructuring or exit costs in the last 12 months"
},
{
"key": "slowjumpy",
"text": "slow and jumpy: growing slower than its size class, with revenue that swings more"
}
],
"rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.",
"level": 2,
"name": "Weathered boat",
"plain": "two warning signs"
},
"cashFlow": {
"fiscalYearEnd": "2025-12-31",
"operating": 465000000,
"investing": -1223000000,
"financing": 530000000,
"capitalSpending": 995000000,
"free": -530000000,
"trend": [
{
"fiscalYearEnd": "2021-12-31",
"operating": 2394000000,
"free": 1736000000
},
{
"fiscalYearEnd": "2022-12-31",
"operating": 3395000000,
"free": 2287000000
},
{
"fiscalYearEnd": "2023-12-31",
"operating": 2336000000,
"free": 1302000000
},
{
"fiscalYearEnd": "2024-12-31",
"operating": 1314000000,
"free": 306000000
},
{
"fiscalYearEnd": "2025-12-31",
"operating": 465000000,
"free": -530000000
}
],
"note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)."
},
"investments": {
"fiscalYearEnd": "2025-12-31",
"cash": 2724000000,
"shortTerm": 63000000,
"longTerm": 141000000,
"equityHoldings": null,
"totalAssets": 19961000000,
"ladder": {
"within1y": 63000000,
"y1to5": 129000000,
"y5to10": 2000000,
"y10plus": 10000000,
"noSingleDate": null
},
"currentRatio": 2.24,
"unrealizedGain": null,
"unrealizedLoss": null,
"note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here."
}
},
"definitions": {
"operatingMargin": "Operating income divided by revenue.",
"netMargin": "Net income divided by revenue.",
"freeCashFlow": "Cash from operations minus spending on property and equipment.",
"researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.",
"equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.",
"returnOnEquity": "Net income for the year against shareholders equity at year end.",
"payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.",
"dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.",
"revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.",
"credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.",
"peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.",
"backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.",
"healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt."
},
"speedCash": {
"fiscalYear": 2025,
"cashConversion": 0.0416,
"growth3y": -0.109,
"volatility": 0.2209,
"paysDividend": true,
"raisedDividend": true,
"equityRatio": 0.4405,
"quadrant": {
"code": "sj",
"label": "Slow and jumpy",
"plain": "growing slower than its size class, with revenue that swings more"
},
"compass": {
"code": "fading",
"inside": "Turns 4.2% of revenue into operating cash; revenue shrinking 10.9% a year over three years; pays and raised its dividend.",
"outside": "Among $10B+ companies: 15th percentile for cash, 4th for growth.",
"emoji": "🍂",
"label": "Fading",
"plain": "slow and jumpy, lagging its peers"
},
"band": "$10B+",
"cashPctInClass": 15,
"growthPctInClass": 4,
"source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class"
},
"harbor": {
"signs": [
{
"key": "warning",
"text": "filed restructuring or exit costs in the last 12 months"
},
{
"key": "slowjumpy",
"text": "slow and jumpy: growing slower than its size class, with revenue that swings more"
}
],
"rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.",
"level": 2,
"name": "Weathered boat",
"plain": "two warning signs"
},
"cashFlow": {
"fiscalYearEnd": "2025-12-31",
"operating": 465000000,
"investing": -1223000000,
"financing": 530000000,
"capitalSpending": 995000000,
"free": -530000000,
"trend": [
{
"fiscalYearEnd": "2021-12-31",
"operating": 2394000000,
"free": 1736000000
},
{
"fiscalYearEnd": "2022-12-31",
"operating": 3395000000,
"free": 2287000000
},
{
"fiscalYearEnd": "2023-12-31",
"operating": 2336000000,
"free": 1302000000
},
{
"fiscalYearEnd": "2024-12-31",
"operating": 1314000000,
"free": 306000000
},
{
"fiscalYearEnd": "2025-12-31",
"operating": 465000000,
"free": -530000000
}
],
"note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)."
},
"investments": {
"fiscalYearEnd": "2025-12-31",
"cash": 2724000000,
"shortTerm": 63000000,
"longTerm": 141000000,
"equityHoldings": null,
"totalAssets": 19961000000,
"ladder": {
"within1y": 63000000,
"y1to5": 129000000,
"y5to10": 2000000,
"y10plus": 10000000,
"noSingleDate": null
},
"currentRatio": 2.24,
"unrealizedGain": null,
"unrealizedLoss": null,
"note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here."
}
}